Review of Ag Growth International Inc

SEP 11, 2025 - AFN is positioned to benefit from long-term secular trends in food security, global trade, and agricultural infrastructure modernization, and is actively expanding its presence in fast-growing emerging markets. Although, its debt levels have been expanding while its sales growth moderates materially. Its profitability is under pressure as a result, and cash flows have declined in recent quarters. While its valuation is cheap, we feel it is likely ‘cheap for a reason’, and at this time we are downgrading our rating by one notch to “C+”.